SINGAPORE (dpa-AFX) – Oil prices fell slightly on Tuesday. In the morning, however, they were able to hold onto most of the price gains from the start of the week, when rising oil imports in China boosted prices. A barrel (159 liters) of North Sea Brent for delivery in October cost 96.42 US dollars in the morning. That was 23 cents less than the day before. The price for a barrel of West Texas Intermediate (WTI) for September delivery fell 18 cents to $90.58.
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Oil prices rose more than a dollar a barrel on Monday. According to market observers, however, the uncertainty about the further development of the global economy is too great to be able to continue the price gains at the beginning of the week.
Oil prices have recently come under pressure due to a slowdown in the global economy. North Sea and US crude prices are just above their lowest levels since February, reached late last week. On the oil market, however, there are also reports of a currently comparatively low trading volume, which results in greater fluctuations in oil prices./jkr/mis